AUSTRALIA Metal stocks bearish

Press, 3 December 1987, Page 34

AUSTRALIA Metal stocks bearish

NZPA-AAP Sydney The Australian share market closed firmer in a sluggish session after an uncertain opening, but interest was selective and trading volumes were relatively thin yesterday. Brokers said light bargain hunting among industrial issues offset bearish sentiment among gold and base metal stocks following a slight downturn in bullion prices. At the close, the all ordinaries index had edged up 1.4 points to 1307.7 and the all industrials had gained 8.3 points to 1975.1, while the all resources eased 3.3 to 791.5 and the gold marker slipped 1.4 points to 2262.9. National turnover was 101.60 M shares worth sAustl43.22M with falls outnumbering rises by about three to two. Brokers attributed the lacklustre performance to an absence of fresh local or overseas news and although the undertone of the market was firm, they said local investors were generally reluctant to take positions. On the industrials board, a steady Australian dollar, combined with Tuesday's sharp sell-off, saw scattered demand among leading issues. BTR Nylex added 16c to 626 c, FAI gained 10c to 580 c as 15c rises took Lend Lease to 1075 c and TNT to 340 c. Among special interest stocks, Elders IXL lost 13c to 332 c as takeover speculation evaporated, and BHP eased 4c to 696 c. Adsteam subsidiary, David Jones, fell 10c to 630 c after announcing it had increased its stake in National Australia Bank (NAB) to 14.05 per cent.

Adsteam advanced 5c to 465 c and NAB 7c to 452 c. Elsewhere in the sector West- t pac added 8c to 458 c and ’ News Corp closed 10c tower at 1020 c. Most of the miners lost their early gains as a strengthening US dollar was expected to see a further decline in bullion prices. Base metal stocks were mixed with CRA falling 6c to 570, as Bougainville added 10c to 370 c. MIM was steady on 175 c after reports that wholly owned subsidiary Carpentaria Gold had completed its first Australian gold pour. Among the gold stocks 10c losses took Metana to 1000 c and Jason Mining to 280 c while Barrack climbed 15c to 350 c, Emperor added 10c to 490 c and Central Norseman 5c to 170 c.

Closing quotes Last Industrial Buy Sell sale ACI 353 360 350 AFP 100 102 102 AGC 250 —— — ANI 150 155 150 91nts — 430 415 96nts 301 365 300 ANZ 375 380 375 AWA 245 248 245 Acmex 195 210 — AdelStm 465 470 465 Adtiser 820 850 — Alcan 120 —— 125 Alpha 15 — 15 Amatil 624 630 626 B 642 —— —— Amcor 365 370 370 Ampol 288 296 300 Argo 205 210 — Ariadne 56 58 58 Arnotts 382 410 385 Arrowfeld 275 300 275 pref — 210 — AFound — 115 115 AustrOvrs 35 40 rts — 1 —— BHP 694 696 696 BTGlobal 33 35 — BTR 620 — 626 BankQld 242 — — Barwon 20 22 22 BellG 180 185 185 pref — 1500 — BellRes 166 170 166 Bisleyopt — 30 — BondCorp 173 175 175 BondMed 61 62 62 opt 12 14 — Boral 350 355 355 Botena — 145 — Brambles 720 726 720 90nts 750 —— 750 BrickP 318 319 — Brierley 185 190 190 Bundaberg 200 240 — BurnsP 355 360 358 CRP —- 40 —— CIG 410 416 415 CSR 305 310 305 Cadbury 220 225 225 ChaseCrp 98 102 100 Claradeen 80 85 80 ClytnRob 170 175 175 Clyde 145 160 145 CoalAll 360 — 360 ColesM 590 600 590 Comalco 210 215 210 Cortaus —— 20 —— Costain 250 270 255 DeakMorg — 80 80 EDunlop 210 — — Eastcourt 35 38 — Elders 331 332 332 Email 270 285 285

Equitcorp 75 80 73 EuroNat 100 100 FAI 580 600 580 Fairfax 830 — — FineMet 110 115 — FCL 387 392 390 Fortuna — 180 — GPT 270 275 270 Goodman 300 306 305 HDFI 70 85 —- Hanimex 115 120 120 HardieJ 285 295 290 Helm 185 190 185 pref 155 — — Hitek 45 — — Hooker 170 175 175 Hugall 50 75 — opt —— 35 — Humes 207 215 210 UProp 1680 —— 1700 ICI 430 450 —— lELGrwth — 75 — lELIncme 75 —— — Imagin 70 75 75 IEL 168 170 168 InterPac 70 100 85 Intrchase 10 26 —— Jasco 165 180 — Jennings 190 — 190 JonesDav 620 640 630 JonesRbt — 145 — Jonray 85 90 90 Kern —— 200 195 Kimberley — 170 — Lrchhill —— 170 — opt 10 50 — Leda 46 50 46 Leighton 49 50 49 LLease 1075 —— 1075 Linter 265 275 265 Mayne 450 460 450 McPherson 110 116 116 Memtec 240 250 —— Miniskips 60 65 — Monier 409 410 410 NZFP 300 — — NZICorp 176 185 185 NatAust 450 452 450 NatCons 265 267 265 NewsCorp 1020 1030 1020 OPSM 265 270 270 Oakbridge 17 18 18 Oceanic 92 120 — PacDunlp 375 378 375 Parbury 80 90 —— PetersSl 228 230 230 PioneerC 280 285 280 QBE 410 420 420 Qintex 475 480 480 ReilCorp — 290 —• opt 10 30 — Renouf 170 205 170 Rheem 175 180 180 Rothmans 600 — —* Rothwells 70 80 — SmithHwd 290 300 — SthnFarm 445 480 — Sunshine 284 290 284 TAGPac 23 —- 23 TNT 340 345 340 Taylor 160 165 165 USMaster 50 —— — UnityCrp 60 70 70 Vapocure —— 40 40 Vestcorp — 60 —— Viking — 18 — Walton —— 14 —— Watty! 340 350 345 WestCptl 145 200 — WfieldHl — 580 540 WfieldTr 155 158 158 Westmex 75 80 80 Westpac 455 458 458 WfldCap 48 50 50 Woolworth 215 — 215 Wormaid 155 160 160 AUR 65 68 65 ACMins 500 510 500 Aberfoyle 400 410 400 Ashton 153 154 150 AustDevl 230 240 230 BHPGold —— no no Bendigo 86 100 100 Ct 60 75 60

opt 70 80 70 opt 50 55 55 Bougainvl 355 170 167 CNGold 167 170 167 CRA —— 570 570 Carr Boyd 90 95 95 CityRes 65 67 66 opt 20 30 — ConsRes 3 4 3 ConsRtle 560 — 560 Dominion 165 170 170 ERA 215 220 220 EldersRs 210 215 210 Emperor 470 500 490 Forsayth 215 220 220 GMKalg 580 590 580 GiantRes 175 176 175 opt 28 30 28 Hill50 160 —— 160 JasonMin —— 290 280 J'lana 35 40 39 KiaOra 50 52 50 Kidston 500 510 510 Kitchener 75 80 85 Kiwi Gold 40 45 45 MIM 173 175 175 Metals Ex 190 192 — Metana 1000 1010 1000 Moruya 35 40 40 Niugini 720 726 720 Noranda 240 245 245 NBH 262 265 262 NthKalg 121 123 122 NthFlndr 780 770 Otter 30 35 — Pancont 200 205 205 Paragon 75 80 78 rts 80 85 opt 55 60 55 Paringa 265 — 265 Peko 580 — 600 PlacrPac 228 232 230 Poseidon 390 395 395 QldCoal 108 110 108 RGC 870 880 880 SnsGwlia 920 924 924 Spargos 40 42 42 Ct 6 7 7 SthnPac 32 35 34 Technomin 22 26 25 TitanRes 20 22 20 WMC 580 584 582 WalMin 105 115 115 WestSand 120 — 120 AOG 95 102 100 AmpolExp 260 265 265 Beach 36 38 38 Bridge 80 84 81 opt 43 44 44 Claremont 45 46 46 Crusader 125 145 — Cultus «— 15 15 Expo 58 60 59 Hartogen 165 175 175 Breach 5 •— —— Magellan 200 235 — Magnet 6 — —— OilSch 116 120 116 PekoOil 70 75 — Petroz 3 4 4 Santos 390 395 395 Vamgas 200 — — WeeksPet — 1300 — Woodside 114 120 113